“Shell always said it was commercial if the price of oil got above $50 a barrel”
Historically because the price of energy and other costs have gone up with the price of oil the costs to produce kerogen have gone up with it so it is a moving target. I don’t know what the current cost would be, but I am quite sure it is way above $50.
As one well known geologist once said, “ oil shale is the oil of the future and aways will be. “
It was only a couple of years ago. The price was above $75 or $80 at the time.
I agree with your remark that the $50 is a moving target. But, again, if it can never be commercially viable, no need to shut it down legally. I notice driving through the area a lot of drilling rigs. I assume they are exploring, to nail down exactly where the deposits are. In the current political climate, its a dead issue. But someone is doing a lot of exploring.
Well, I guess the future is here. The oil of the “future” is being cracked today from the Texas Eagleford in several refineries here in Texas.
Although it is proving to be a challenge since it is a lighter crude and coking over equipment resulting in more turn arounds.
Also old time process operators are having to relearn and change their operating parameters and companies are having to retrofit equipment (add preheaters), it is being done.